Successful sea trial for Veem

Marine technology company VEEM has announced successful sea trials of its gyrostabilisers by Netherlands-based shipbuilder Damen Shipyards.

In April, the Canning Vale-based firm secured a contract to supply Damen, which is Europe’s second largest shipbuilder, with its VG-model gyrostabilisers.

The deal was subject to a successful result of sea trials on a crew supplier vessel operated by Damen.

Typically located in the engine room, gyrostabilisers act to reduce the rolling motion of a vessel in waves.

Veem chairman Brad Miocevich said its VG-model gyrostabilisers, which were released in 2015, exceeded Damen’s expectations.

“It was impressive to see the new Damen, Ampelmann, Veem combination working so seamlessly,” Mr Miocevich said.

“We are very excited to receive Damen’s confirmation that they would now like to proceed to the purchase phase and confirm commercial requirements and delivery dates for us to supply Veem’s largest gyrostabiliSer, the VG1000SD, for the new Damen FCS 7011.”

Veem is hoping to secure supply contracts for its gyrostabilisers in a number of marine industry markets, including the local defence sector, with 12 offshore patrol vessels being built in Western Australia and South Australia as part of a $3.6 billion federal government program.

Veem managing director Mark Miocevich said the anticipated orders were a milestone on the company’s path to widespread sales of Veem Gyrostabilisers.

“To have a shipbuilder of the calibre of Damen place orders for Veem gyros heralds a new phase in our growth,” Mr Miocevich said.

Veem shares were up 7.9 per cent at 54 cents each at 1.30pm AEDT.